Sirius Stock Predictions: Rising Sales of Smart Home Speakers Is A Tailwind For Sirius XM
The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.
Summary:
- Sirius XM can get a boost from rising sales of smart home speakers.
- Amazon’s Echo series of home assistants and Sonos wireless speakers now support Sirius XM. The Alexa-powered Echo is the world’s best-selling smart speaker.
- CIRP estimates that there are now 45 million smart speakers in use in the United States.
- Smart home speakers can help Sirius XM reduce its reliance on car sales. The impending risk is future cars might drop the satellite radio in favor of connected infotainment.
- SIRI has bullish near and long-term algorithmic market trend forecasts.